Noesis Capital Mangement Corp trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,278 shares of the information services provider’s stock after selling 316 shares during the period. Noesis Capital Mangement Corp’s holdings in Alphabet were worth $2,671,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares in the last quarter. State Street Corp boosted its position in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA increased its position in Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after purchasing an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Alphabet by 1,896.9% during the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after purchasing an additional 55,153,448 shares during the period. 34.06% of the stock is owned by hedge funds and other institutional investors.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $107.34 on Friday. The stock’s 50-day simple moving average is $100.20 and its 200-day simple moving average is $96.63. The firm has a market capitalization of $1.37 trillion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.43 and a beta of 1.10. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $122.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.34 and a current ratio of 2.35.
Insider Buying and Selling
In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold 100,539 shares of company stock worth $10,209,164 in the last ninety days. 11.44% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on GOOGL. JMP Securities restated a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a report on Thursday, March 16th. Oppenheimer lifted their target price on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday. Evercore ISI increased their price target on Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday. Roth Mkm boosted their price objective on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday. Finally, MKM Partners increased their target price on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Three analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $130.06.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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